The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives Average Recommendation of "Moderate Buy" from Brokerages

The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Free Report) has earned a consensus rating of "Moderate Buy" from the five analysts that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $13.25.

A number of analysts have recently weighed in on GT shares. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective for the company in a research note on Monday, March 31st. TD Cowen assumed coverage on shares of Goodyear Tire & Rubber in a report on Friday, March 7th. They issued a "buy" rating and a $14.00 price target on the stock. StockNews.com upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a report on Friday, May 2nd. Finally, Argus upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price target on the stock in a report on Tuesday, February 18th.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ GT traded up $0.14 during trading hours on Friday, reaching $11.08. 2,198,308 shares of the stock traded hands, compared to its average volume of 5,985,993. The company has a market capitalization of $3.16 billion, a P/E ratio of 46.17 and a beta of 1.42. The company's 50-day simple moving average is $9.71 and its two-hundred day simple moving average is $9.41. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. Goodyear Tire & Rubber has a 52-week low of $7.27 and a 52-week high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.41 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The firm's revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 earnings per share. Equities research analysts forecast that Goodyear Tire & Rubber will post 1.5 EPS for the current year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Goodyear Tire & Rubber in the 4th quarter worth about $39,626,000. Capula Management Ltd bought a new position in shares of Goodyear Tire & Rubber during the fourth quarter valued at approximately $330,000. Truist Financial Corp increased its stake in shares of Goodyear Tire & Rubber by 5.2% during the fourth quarter. Truist Financial Corp now owns 22,753 shares of the company's stock valued at $205,000 after purchasing an additional 1,115 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Goodyear Tire & Rubber by 65.9% during the fourth quarter. Franklin Resources Inc. now owns 224,124 shares of the company's stock valued at $2,017,000 after purchasing an additional 88,993 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Goodyear Tire & Rubber by 158.6% in the 3rd quarter. Barclays PLC now owns 975,634 shares of the company's stock worth $8,635,000 after purchasing an additional 598,330 shares in the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.